Red Rock Resorts (NASDAQ:RRR) Price Target Raised to $65.00 at Macquarie

Red Rock Resorts (NASDAQ:RRR) had its price target raised by Macquarie from $62.00 to $65.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Macquarie’s price objective indicates a potential upside of 15.06% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Susquehanna increased their price target on Red Rock Resorts from $63.00 to $70.00 and gave the stock a “positive” rating in a research note on Wednesday. Truist Financial cut their price target on Red Rock Resorts from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Wednesday. JMP Securities cut their price target on Red Rock Resorts from $66.00 to $65.00 and set a “market outperform” rating for the company in a research note on Wednesday, May 8th. Morgan Stanley increased their price objective on Red Rock Resorts from $53.00 to $54.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. Finally, Barclays dropped their price objective on Red Rock Resorts from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Red Rock Resorts Stock Up 0.3 %

Shares of NASDAQ:RRR opened at $56.49 on Wednesday. The company has a debt-to-equity ratio of 18.49, a current ratio of 0.90 and a quick ratio of 0.85. The company has a market capitalization of $5.97 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.89 and a beta of 2.04. Red Rock Resorts has a 1 year low of $37.82 and a 1 year high of $63.28. The business has a fifty day moving average price of $53.59 and a two-hundred day moving average price of $55.24.

Red Rock Resorts (NASDAQ:RRR) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.16. The company had revenue of $486.40 million during the quarter, compared to the consensus estimate of $475.80 million. Red Rock Resorts had a return on equity of 87.05% and a net margin of 9.21%. The firm’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 EPS. Analysts forecast that Red Rock Resorts will post 1.83 earnings per share for the current year.

Insider Buying and Selling at Red Rock Resorts

In other Red Rock Resorts news, Vice President Lorenzo J. Fertitta purchased 800,000 shares of the stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $50.39 per share, with a total value of $40,312,000.00. Following the acquisition, the insider now directly owns 47,447,301 shares in the company, valued at approximately $2,390,869,497.39. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 53.28% of the company’s stock.

Institutional Trading of Red Rock Resorts

Several institutional investors and hedge funds have recently modified their holdings of the business. Covestor Ltd increased its position in shares of Red Rock Resorts by 16,666.7% during the 1st quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $30,000 after purchasing an additional 500 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Red Rock Resorts during the 1st quarter valued at about $78,000. Virtu Financial LLC bought a new position in shares of Red Rock Resorts during the 4th quarter valued at about $212,000. Core Wealth Partners LLC bought a new position in shares of Red Rock Resorts during the 4th quarter valued at about $213,000. Finally, SG Americas Securities LLC bought a new position in shares of Red Rock Resorts during the 1st quarter valued at about $236,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.

Red Rock Resorts Company Profile

Red Rock Resorts, Inc, through its interest in Station Casinos LLC, develops and operates casino and entertainment properties in the United States. The company owns and operates gaming and entertainment facilities, including Durango Casino & Resort and smaller casinos in the Las Vegas regional market.